TODA Holdings serves to protect individuals identity and data security as part of its decentralized network.
ThreeD Capital (CSE:IDK), a venture capital firm focused on disruptive technologies announced that it has purchased US$500,000 in preferred stock of TODAQ Holdings. As a decentralized protocol, TODA Holdings operates under the mission to protect identity and data security for its users. In addition to the preferred shares, ThreeD will also receive royalty rights to 175 million in Toda Notes.
As quoted in the press release:
“Over the course of this last year working with ThreeD Capital as our investor, we’ve brought academic institutions in to collaborate on TODA Protocol decentralization and R&D, built the first version of the TODA Protocol into an enterprise grade open API platform called TaaS, partnered with global corporations in preparation to scale out to the first hundreds of thousands of people, and readied ourselves to launch and exchange list the TODA Note, the first decentralized digital asset on TODA designed to support real economy utility. We’re looking forward to integrating ThreeD Capital as our Canadian investor partner, and its portfolio, into our main partners markets in Asia, Middle East and Europe,” said Hassan Khan, the Co-Founder and CEO of TODAQ.
The TODA Note is a reserve backstopped digital note designed to accelerate commerce and industry as well as complement existing fiat currencies (which can also be put directly on the TODA). Due to the TODA Protocol’s efficiency, TDN is not needed to settle or reach consensus on transactions of TODA based digital assets. There will be a total of 237 cryptographically generated TDN, with a distribution period of about ten years to place the entire supply into the global market. Any node or low power device taking part in distributed consensus or settlement work can also have a very small probability of generating a net new TDN so that there is a slow but capped inflation of the overall TDN supply over time.